Answers to your insurance questions

Can I save money by insuring my car, home or boat with the same company?

This is a good way to pick up some discounts from your insurer. The insurance company will give a minimum 5% discount on the home and on the physical damage section of the automobile policy. Some insurance companies give free coverages and waive service charges on financing for their home and automobile packages. Often the boat or trailer will receive a similar discount if it is packaged onto the home policy.

Most insurance companies waive the lower deductible if there is a claim involving both home and auto. An example of such would be hail damaging the house and the car.

You do need to look at all your options. There are some specialty insurers that might save you money for items such as an antique vehicle, motorcycle, trailer or a boat. You need to consider the deductible and total premium.

Another area is claims. If the boat or trailer is with a different insurer you might be more likely to present a claim as it will not affect your claims history. An example would be the awning torn off by wind on your trailer. If you claim this then you could lose your no-claims discount on the home insurance. If you have the trailer on a separate policy, you would proceed with the claim.